Jumia operates in 11 African states including Uganda A year after its much heralded debut on the New York Stock Exchange, e-commerce start-up Jumia has shut down in three African states, struggled to turn a profit and got dumped by its original owners, writes former BBC Africa Business editor Larry
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Trading taking place at Uganda Securities Exchange (USE) The majority of the world’s wealthiest investors are waiting for stocks to drop further before buying again, on concerns about the pandemic’s impact on the global economy, according to a poll by UBS Global Wealth Management. Among the surveyed investors and business
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EU Head of Delegation to Uganda, Ambassador Pacifici (L) and Minister Kasaija after signing the deal The European Union has today approved to finance the project for the rehabilitation of the Tororo-Gulu railway. A grant of EUR 21.5 million (UShs91bn) will be disbursed from the European Development Fund (EDF) to
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Absa Bank Uganda has today released its financial results for 2019 reporting a 19.4% growth in revenue to UGX 405 billion, up from UGX339 billion in 2018. “We saw steady growth in the bank’s balance sheet and income in 2019. We continue to drive cost efficiencies and manage our portfolio
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Heavy-goods vehicles have been queuing on the Kenya-Uganda border due to slow coronavirus tests Ugandan President Yoweri Museveni has announced new measures to control the spread of the coronavirus by lorry drivers after more than 20 entering the country from Kenya tested positive. The drivers won't be allowed to carry
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Nigerian President Muhammadu Buhari. FILE PHOTO | AFP The Executive Board of the International Monetary Fund (IMF) approved Nigeria’s request for emergency financial assistance of SDR 2,454.5 million (US$ 3.4 billion, 100 percent of quota) under the Rapid Financing Instrument (RFI) to meet the urgent balance of payment needs stemming
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Eng. Irene Kaggwa Ssewankambo, the UCC Acting Executive-Director As many Ugandans continue to stay and work at home following the COVID-19 imposed lockdown, there is increased demand for Internet connectivity to facilitate work, business or keeping in touch with loved ones. However, data bundle usage remains a mystery to many
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Uganda's President Yoweri Museveni has challenged civil servants in the country to take pay cuts and support efforts to fight coronavirus. Museveni said this while addressing the nation on the COVID-19, the disease caused by the virus. "Why public servants have not cut salaries. Your people pay me 3.6m then
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Uganda's President Yoweri Museveni has signed the Sugar bill into law. This as Uganda makes its final deliberations in trading off its surplus sugar to Tanzania, with the first consignment of 20,000 metric tones being agreed upon, at the prevailing market rates. The President assented to the bill on 24th,
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Fort Portal is set to be upgraded to city status/online photo Uganda’s Parliament Tuesday unanimously passed the creation of 15 new cities. 313 MPs were present, with 312 voting in favour while one voted against. It’s only Sarah Opendi, the Minister of State for Mineral Development that voted against the
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